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4 Hour Strategy (MACD)

  • #17,421
  • Oct 13, 2008 12:58pm Oct 13, 2008 12:58pm
We have another one coming up on the USD/CAD. If ADX signals then i will probably miss it because of sleeping hours.
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  • #17,422
  • Oct 13, 2008 2:57pm Oct 13, 2008 2:57pm
Quoting edeyj999
Folks,

I have been studying this strategy and Phillips 5 minute strategy during the past two months and I have been demo trading this month with some success.

If all goes well I would intend to go live in a modest fashion at the beginning of November. However, I have a question about the method of trading. I trade in the UK using a spreadbetting broker (i.e. I bet a specified number of £'s per pip) rather than using lots per MT4. I have been using MIGs MT4 trading platform to demo but have really been counting pips and manually calculating what I would have bet with profits/losses.

My broker does not use MT4 but I would like to continue to use it for analysis but I notice MIG have a 90 day limit. What do other people do in these circumstances?

Any help/advice is much appreciated.
Have a look at Alpari. I use them as my forex broker in UK. You can open mini and micro accounts with them. The micro will let you trade in 0.01 lots. Which is about 6p/pt say on the Euro and Cable just now. Just scale up to your 2-3% risk per trade. If your stack size allows you can spread bet with Finspreads for min 50p/point on the currencies and use Alpari Demo account to do your 4H MACD analysis. My Alpari Demo has been going for ages as I place frequent trades.

Good Luck.
  • #17,423
  • Oct 13, 2008 3:07pm Oct 13, 2008 3:07pm
ekling:

My 4hr USDCAD chart has price closing below the 21..."all bets are off" when this happens.
  • #17,424
  • Oct 13, 2008 3:37pm Oct 13, 2008 3:37pm
Hi Phillip,

Firstly, thanks for all your work and involvement! Really appreciate it.

I wanted to ask you if you would enter the trade below? This is the example when basing on the entrance rules seems not enough to succeed. How would you behave in this situation and why?

Thanks in advance!
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  • #17,425
  • Oct 13, 2008 3:44pm Oct 13, 2008 3:44pm
Phillip,

Here I gained quick 36 pips. However, I am not sure if I did it according to your rules or if it was only luck. In my entry point MACD didn't drop below zero and I decided to treat it as the double top. But aren't these tops too far from each other to treat them this way? I established TP at the price level 1.3500 and the SL 10 pips above 1.3600.

Thank you for any comments!
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  • #17,426
  • Oct 13, 2008 5:05pm Oct 13, 2008 5:05pm
Quoting BenStevo
I constantly amaze myself at a talent I seem to have of working out a set of scenarios....then just sitting there when one sets itself up and watching it sail past without jumping onboard. Incredible
Great example on the E/U today. Anticipation was a move off 21 and gap fill. H1 shows good support on the 89. This was confirmed by an evening star. And there I was...just watching...all the way down to my target at 1.3461!
Well if I didn't get it, I hope someone else was a bit more alert and convinced and made some good pips.
Good analysis. I used staggered entry to enter the short there. Although the MACD did not signal a short yet there is a very very high chance the gap will get filled immediately. Bagged 65 pips on that short.
  • #17,427
  • Oct 13, 2008 11:56pm Oct 13, 2008 11:56pm
Quoting neilbuc
Have a look at Alpari. I use them as my forex broker in UK. You can open mini and micro accounts with them. The micro will let you trade in 0.01 lots. Which is about 6p/pt say on the Euro and Cable just now. Just scale up to your 2-3% risk per trade. If your stack size allows you can spread bet with Finspreads for min 50p/point on the currencies and use Alpari Demo account to do your 4H MACD analysis. My Alpari Demo has been going for ages as I place frequent trades.

Good Luck.
Thanks for the information - I will have a look at Alpari.

Only concern I have is that spread betting in the UK doesn't attract tax (yippee!!!). Not sure what the situation would be trading with Alpari using lots rather than £ per pip (taxable? - strange rules and regulations about what is and isn't taxable in the UK). However, I will check them out for that and see what their terms and conditions are.

Thanks again and good trading to you!
James The Beekeeper
  • #17,428
  • Oct 14, 2008 2:01am Oct 14, 2008 2:01am
Quoting edeyj999
Folks,

I have been studying this strategy and Phillips 5 minute strategy during the past two months and I have been demo trading this month with some success.

If all goes well I would intend to go live in a modest fashion at the beginning of November. However, I have a question about the method of trading. I trade in the UK using a spreadbetting broker (i.e. I bet a specified number of £'s per pip) rather than using lots per MT4. I have been using MIGs MT4 trading platform to demo but have really been counting pips and manually calculating what I would have bet with profits/losses.

My broker does not use MT4 but I would like to continue to use it for analysis but I notice MIG have a 90 day limit. What do other people do in these circumstances?

Any help/advice is much appreciated.
Perhaps a demo account at fxpro.com
  • #17,429
  • Oct 14, 2008 3:33am Oct 14, 2008 3:33am
Quoting eTrader
Perhaps a demo account at fxpro.com
Hi, thanks for the advice.

Just checked Alpari and they allow demo accounts to be open indefinitely as long as there is at least one trade placed every 45 days (I think I can just about manage that!!!).

So, when my MIG account expires I will open an Alpari account for analysis. It doesn't feel quite right to take advantage of them like that but they have confirmed that any profits with them would be taxable whereas profits with spread betting brokers are not (so a bit of a no-brainer really!).
James The Beekeeper
  • #17,430
  • Oct 14, 2008 7:00am Oct 14, 2008 7:00am
macd double top target 1.3660
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  • #17,431
  • Oct 14, 2008 7:57am Oct 14, 2008 7:57am
Quoting edeyj999
Thanks for the information - I will have a look at Alpari.

Only concern I have is that spread betting in the UK doesn't attract tax (yippee!!!). Not sure what the situation would be trading with Alpari using lots rather than £ per pip (taxable? - strange rules and regulations about what is and isn't taxable in the UK). However, I will check them out for that and see what their terms and conditions are.

Thanks again and good trading to you!

Alpari has a US office. I have an account with them, and haven't had any slippage in over a year of trading with them.
  • #17,432
  • Oct 14, 2008 8:37am Oct 14, 2008 8:37am
Hi

I'm new to this thread and learning as much as I can about the 4 hour MACD as well as the 5 minute system. What an incredible amount of work you guys have put in. Anyways, I noticed that the ADX crossover are on some charts, and not others. From what I can see, Phil doesn't use it. Just wondering if I should include it. Also, does anyone use the SMA angle indicator on 4 hour charts. Thanks for your help.

Petre
  • #17,433
  • Oct 14, 2008 9:48am Oct 14, 2008 9:48am
Quoting djgpp
Phillip,

Here I gained quick 36 pips. However, I am not sure if I did it according to your rules or if it was only luck. In my entry point MACD didn't drop below zero and I decided to treat it as the double top. But aren't these tops too far from each other to treat them this way? I established TP at the price level 1.3500 and the SL 10 pips above 1.3600.

Thank you for any comments!
On my chart I would have taken the TC/ZeroBounce. It was however sleeping time so I missed it.

That double top is to far apart and does not formed in overbought conditions.
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  • #17,434
  • Oct 14, 2008 10:05am Oct 14, 2008 10:05am
Look at the 1Hour with the ADX that Palmer have on his website. Really is good stuff in this volital market.
Attached File(s)
File Type: zip Daily Wrapup 14 Oct2008.zip   827 KB | 890 downloads
  • #17,435
  • Oct 14, 2008 10:06am Oct 14, 2008 10:06am
Quoting petera
Hi

I'm new to this thread and learning as much as I can about the 4 hour MACD as well as the 5 minute system. What an incredible amount of work you guys have put in. Anyways, I noticed that the ADX crossover are on some charts, and not others. From what I can see, Phil doesn't use it. Just wondering if I should include it. Also, does anyone use the SMA angle indicator on 4 hour charts. Thanks for your help.

Petre
Petre:

The ADX is used in conjunction with the 1hr charts for possible early entries on the 4hr for high probability trades. Although the concept is simple, please take the time to recognize the rhythm with the 4hr charts first.

Not sure if anyone is using the SMAAngle with the 4hr...
  • #17,436
  • Oct 14, 2008 11:49am Oct 14, 2008 11:49am
Have you given in the past any lessons on trading the gap? Do you enter a trade in anticipation of closing the gap?
Many thanks Jideck
  • #17,437
  • Oct 14, 2008 11:51am Oct 14, 2008 11:51am
thanks again, for posting your system. it really helps me alot. so i'm going to try with real money this time~
  • #17,438
  • Oct 14, 2008 11:54am Oct 14, 2008 11:54am
Quoting Jideck
Have you given in the past any lessons on trading the gap? Do you enter a trade in anticipation of closing the gap?
Many thanks Jideck
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  • #17,439
  • Oct 14, 2008 12:47pm Oct 14, 2008 12:47pm
Thanks Philip. Regards, Jideck
  • #17,440
  • Oct 14, 2008 6:04pm Oct 14, 2008 6:04pm
Yo! Attached is a transcript of Phillip's "Daily Wrapup 14 Oct2008" MP3.

Cheers!
Attached File(s)
File Type: txt Daily Wrapup 14 Oct2008.txt   5 KB | 444 downloads
In Pursuit of Pippyness...
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